Advisory5 Startup Founder Agreement
Welcome to Advisory5 powered by Traction5! Advisory5 is a project by Traction5 LLC. By applying to participate as a startup founder ("Venture") through our platform, you are agreeing to the following terms and conditions. These terms aim to accelerate your startup’s growth by creating efficient, transparent, and actionable mentorship.
Core Principles
Program Goals: Advisory5 is designed to serve you—the entrepreneur—and prioritize your interests in your startup journey.
Non-Discrimination: We are committed to providing a program that is open and fair to all founders.
Financial Commitment
Pricing: Ventures are charged an administration fee of $300 per month unless agreed otherwise in writing.
Price Changes: We reserve the right to change the pricing, which will be communicated at least 30 days in advance.
Operating Model
Venture Teams: As a venture, you will be paired with 2-4 Advisory Board Members to form a Venture Team (aka Advisory Board).
Meetings: Teams are required to meet at least once a month. You commit to remain in the program for at least one year following the three-month pilot phase.
Agenda & Reporting: Ventures must submit an agenda two days before each meeting and meeting notes within two days post-meeting.
Venture Rights and Responsibilities
Advisor Approval: You have the right to review and approve advisors who volunteer to work with you. However, you will not be able to hand-pick advisors from our program.
Team Management: You may manage your advisory team by requesting to replace, remove, or add advisors to your team.
Availability: You have the option to provide availability slots during normal working hours for your advisors to choose from and must agree to honor these for meetings.
Commitment
Duration: Both you and your Advisory Board Members have a month-to-month engagement, with the expected duration of at least one year for maximizing the value of the community for your venture.
Responding: You commit to submitting your agenda 2 days in advance, and your notes 2 days after the session with your advisors. You also agree to respond to messages from Advisory5 administrators within 48 hours during normal business hours.
Leaving the Program when signed up for a 3 month pilot: If after three months or three meetings you feel the program is not a good fit, you are free to leave. Non-pilot participants can exit the program with a 30 day notice.
Conflict of Interest & Disclosure
Disclosure: If an Advisory Board Member engages in a business relationship with you, they are required to notify Advisory5 with a 30-day advance notice.
Conflict of Interest: Real or perceived conflicts of interest must be disclosed and appropriately managed.
Software Use
You agree to use the Traction5 software for all program-related communications, scheduling, and documentation.
Acknowledgements and Release from Liability
Understanding of Terms: I acknowledge that I have read, understood, and will abide by the terms set forth in the Advisory5 Founder Agreement.
Role of Advisors: I acknowledge that advisors participating in the Advisory5 program are not compensated by the ventures or Advisory5, and offer educational support only. Advisors will not make business decisions on behalf of ventures. I hereby release and waive any and all claims against Advisory5 advisors that I, my heirs, successors, or assigns may have concerning any alleged or actual errors, acts, or omissions by such advisors.
Program Administration: I acknowledge that the fees paid for participation in the Advisory5 program cover administrative costs only and do not constitute payment to advisors. I understand that deeper consulting engagements with advisors beyond the scope of Advisory5 are a separate arrangement and are not covered by these fees.
Liability Limitations: I understand that the Advisory5 program does not control or direct its advisors regarding the services provided to ventures. I hereby release and waive any and all claims that I, my heirs, successors, or assigns may have against Advisory5, its directors, and officers, concerning any alleged or actual errors, acts, or omissions by the advisors.
Acceptance
By completing the payment, or clicking the "I Agree" checkbox during the application process, you are acknowledging that you have read, understand, and agree to the terms outlined in this Advisory5 Startup Founder Agreement.